Here is a look at the midtown Tulsa, OK housing market as of April 25, 2021.
The following graph shows the change in the 3-month absorption rate over the past twelve months for single-family homes (i.e., houses) in midtown Tulsa, OK.
This article is an analysis of the market for single-family homes in midtown Tulsa, Oklahoma for the period from January 2021 through April 25, 2021. It analyzes the trends and shifts in the real estate market for houses in midtown Tulsa since the previous month (March 2021).
This post is a study of the supply and demand for single-family homes, an analysis of the housing market for houses, using MLS statistics for houses (single-family homes) to show:
- the hotness index for houses, calculating the ratio between pending and active MLS listings;
- the velocity of the real estate market, showing how many houses are selling each month;
- the 3-month absorption rate, showing the current supply of houses on the market or how long it will take to sell all the houses currently on the market (assuming no other single-family homes come on the market);
- the odds of selling over the next 90 days, using the absorption rate and comparing it to all the rooftops in the market (the active, pending, closed, expired, released and withdrawn listings in the MLS).
This analysis will show the market trends in order to spot shifts in the market. Graphs show the change in the 3-month absorption rate and show whether a particular price point is in a buyer's market or a seller's market.
Methodology
Each month on the 25th I pull CMAs and then plug the data into a spreadsheet so that I can look at the real estate market at various price points and see how it is doing by comparison to the previous month. I then have my husband graph the change in the 3-month absorption rate.
How does one define "midtown Tulsa?" Many people will tell you that midtown Tulsa is an area of luxury homes around Utica Square and Woodward Park, or even from the river to Harvard between 15th Street and 41st Street southeast of downtown Tulsa.
However, in order to get statistics in every price point to cover Brookside, Florence Park, White City, the Pearl District, Riverwood, Maple Ridge, Patrick Henry and Bolewood, I extended the boundaries to be very broad. There is a home for each of us in midtown Tulsa!
The "midtown Tulsa" area covered therefore includes single-family houses located between I-244 and Skelly Drive at I-44 between Riverside Drive at the Arkansas River and Sheridan Road . All houses are in the Tulsa Public School District.
When it comes to houses in midtown Tulsa here is what I discovered:
Midtown Tulsa Houses at All Price Points
In midtown Tulsa there are 91 active listings and 200 pending listings, giving us a "hotness index" of 261.54%.
With 350 listings sold in the last three months, there is a sales velocity of 116.7 homes sold per month. The resulting 3-month absorption rate for all price points is 0.78 months. That is a three week supply of houses for sale in midtown Tulsa.
With 749 total houses in the market (active, pending, closed, expired, released and withdrawn listings), the odds of selling a house in midtown Tulsa within the next 90 days are 46.73%. Those odds are a bit better than last month (46.23%).
Midtown Tulsa Houses Priced Up to $100,000
In the price point under $100,000 there is 1 active listing and 9 pending listings, giving us a "hotness index" of 900.00%.
With 14 listings sold in the last three months, there is a sales velocity of 4.7 homes sold per month. The resulting 3-month absorption rate for the price point under $100,000 is 0.21 months. That is a one-week supply of houses in midtown Tulsa that are priced under $100,000.
With 25 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point below $100,000, the odds of selling a house in midtown Tulsa within the next 90 days are 56.00%. These odds are not as good as last month (64.29%).
Midtown Tulsa Houses Priced from $100,000 to $150,000
In the price point ranging between $100,000 and $150,000 there are 2 active listings and 34 pending listings, giving us a "hotness index" of 1700.00%.
With 62 listings sold in the last three months, there is a sales velocity of 20.7 homes sold per month. The resulting 3-month absorption rate for houses in the price point ranging between $100,000 and $150,000 is 0.10 months. That is a 3-day supply of houses selling between $100,000 and $150,000.
With 108 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point between $100,000 and $150,000 the odds of selling a house in midtown Tulsa within the next 90 days is 57.41%. These odds are not as good as last month (46.67%).
Midtown Tulsa Houses Priced from $150,000 to $250,000
In the price point ranging between $150,000 and $250,000 there are 20 active listings and 89 pending listings, giving us a "hotness index" of 445.00%.
With 121 listings sold in the last three months, there is a sales velocity of 40.3 homes sold per month. The resulting 3-month absorption rate for houses in the price point ranging between $150,000 and $250,000 is 0.50 months. That is a 2-week supply of houses selling between $100,000 and $150,000.
With 246 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point between $150,000 and $250,000 the odds of selling a house in midtown Tulsa within the next 90 days is 49.19%. These odds are not as good as last month (56.94%).
Midtown Tulsa Houses Priced from $250,000 to $350,000
In the price point ranging between $250,000 and $350,000 there are 15 active listings and 31 pending listings, giving us a "hotness index" of 206.67%.
With 64 listings sold in the last three months, there is a sales velocity of 21.3 homes sold per month. The resulting 3-month absorption rate for houses in the price point ranging between $250,000 and $350,000 is 0.70 months. That is a 3-week supply of houses selling between $250,000 and $350,000.
With 121 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point between $250,000 and $350,000 the odds of selling a house in midtown Tulsa within the next 90 days is 52.89%. These odds are a bit better than last month (51.00%).
Midtown Tulsa Houses Priced from $350,000 to $450,000
In the price point ranging between $350,000 and $450,000 there are 9 active listings and 23 pending listings, giving us a "hotness index" of 255.56%.
With 33 listings sold in the last three months, there is a sales velocity of 11 homes sold per month. The resulting 3-month absorption rate for houses in the price point ranging between $350,000 and $450,000 is 0.82 months. That is a 4-week supply of houses selling between $350,000 and $450,000.
With 69 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point between $350,000 and $450,000 the odds of selling a house in midtown Tulsa within the next 90 days is 47.83%. These odds are better than last month (41.94%).
Midtown Tulsa Houses Priced from $450,000 to $600,000
In the price point ranging between $450,000 and $600,000 there are 7 active listings and 15 pending listings, giving us a "hotness index" of 214.29%.
With 18 listings sold in the last three months, there is a sales velocity of 6.0 homes sold per month. The resulting 3-month absorption rate for houses in the price point ranging between $450,000 and $600,000 is 1.17 months. That is a 4-week supply of houses selling between $450,000 and $600,000.
With 44 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point between $450,000 and $600,000 the odds of selling a house in midtown Tulsa within the next 90 days is 40.91%. These odds are much better than last month (27.91%).
Midtown Tulsa Houses Priced from $600,000 to $800,000
In the price point ranging between $600,000 and $800,000 there are 14 active listings and 14 pending listings, giving us a "hotness index" of 100.00%.
With 19 listings sold in the last three months, there is a sales velocity of 6.3 homes sold per month. The resulting 3-month absorption rate for houses in the price point ranging between $600,000 and $800,000 is 2.21 months. That is a 9-week supply of houses selling between $600,000 and $800,000.
With 57 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point between $600,000 and $800,000 the odds of selling a house in midtown Tulsa within the next 90 days is 33.33%. These odds are not as good as last month (38.89%).
Midtown Tulsa Houses Priced from $800,000 to $1,200,000
In the price point ranging between $800,000 and $1,200,000 there are 15 active listings and 19 pending listings, giving us a "hotness index" of 126.67%.
With 25 listings sold in the last three months, there is a sales velocity of 8.3 homes sold per month. The resulting 3-month absorption rate for houses in the price point ranging between $800,000 and $1,200,000 is 1.80 months. That is a 7-week supply of houses selling between $800,000 and $1,200,000.
With 72 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point between $800,000 and $1,200,000 the odds of selling a house in midtown Tulsa within the next 90 days is 34.72%. These odds are slightly better than last month (29.41%).
Midtown Tulsa Houses Priced from $1,200,000 and Above
In the price point ranging from $1,200,000 and above there are 10 active listings and 16 pending listings, giving us a "hotness index" of 160.00%.
With 4 listings sold in the last three months, there is a sales velocity of 1.3 homes sold per month. The resulting 3-month absorption rate for houses in the price point ranging from $1,200,000 and above is 7.50 months. That is a 29-week supply of houses selling above $1,200,000.
With 33 total houses in the market (active, pending, closed, expired, released and withdrawn listings) in the price point from $1,200,000 and above the odds of selling a house in midtown Tulsa within the next 90 days is 12.12%. These odds are not as good as last month (14.71%).
Debbie Durkee can send you the raw data that went into the above market analysis. The data comes from what we call a comparative analysis.
Helpful Links
To search for homes for sale (single-family houses for sale) in Midtown Tulsa, go to Midtown Tulsa, OK Homes for Sale
To see an interactive map of midtown Tulsa neighborhoods, more specifically, the INCOG map of the City of Tulsa's neighborhood associations, go to Tulsa Neighborhood Associations
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Copyright © 2021 Deborah M. Durkee. ALL RIGHTS RESERVED -- Midtown Tulsa Housing Market Analysis - March 2021
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Furthermore, if you are interested in selling your midtown Tulsa home and choose to list with Debbie, she will provide a detailed analysis of the market in your neighborhood or school district so that you can decided the best list price for your home, so it will sell.
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